Which of the Following Financial Statements Is Designed Primarily for Internal

question 229

Multiple Choice

Which of the following financial statements is designed primarily for internal use of the corporation managers (e.g., the production manager) ?

• A) Income statements
• B) Statement of retained earnings
• C) Budget
• D) Balance sheets
• E) Statements of cash flow

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Definitions:

Societal Culture

The shared customs, beliefs, values, norms, and social behavior that characterize the members of a society or community.

Business Culture

Business culture encompasses the values, beliefs, behaviors, and practices that define the environment within a company and how it conducts its business.

Laws Enacted

Legislation that has been officially approved and implemented by a governing body.

Moral Philosophy

The branch of philosophy concerned with principles of right and wrong behavior, as well as the goodness or badness of human character.